Scholastic Corp (NASDAQ: SCHL) reported Q3 EPS of ($0.06), $0.29 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $375 million versus the consensus estimate of $352.85 million.

Revised Fiscal 2016 Free Cash Flow Guidance

While the Company continues to face challenges internationally due to the relative strength of the U.S. dollar, which has already impacted reported revenues by $37.9 million year-to-date, it has affirmed its current fiscal 2016 outlook for total revenue of approximately $1.65 billion and earnings per diluted share from continuing operations of approximately $1.35, before the impact of one-time items associated with cost reduction programs and non-cash, non-operating items. The Company announced that it was lowering its free cash flow guidance for the current fiscal year to $25 to $35 million, excluding the one-time taxes paid on the gain from the sale of its educational technology business, from its previous guidance of $35 to $45 million, to reflect incremental investments, including royalty advances, to support the growing frontlist of new trade titles, authors and licenses, as well as higher capital spending levels for improvements to the Company's corporate headquarters.

For earnings history and earnings-related data on Scholastic Corp (SCHL) click here.